Economic problem arises as a result of
Choice
Money cost
Opportunity cost
Scarcity
Scale of preference
Correct answer is D
No explanation has been provided for this answer.
The trade-off between two commodities along the Production Possibility Curve (PPC) shows
Opportunity cost principle
Scarcity principle
Transferable output
Unattainable combination
Under utilization of resources
Correct answer is D
No explanation has been provided for this answer.
Which of the following is NOT a function of marketing boards in Nigeria?
Fixing of prices for farm produce
Grading of farm produce
Importation of farm produce
Marketing of farm produce
Price stabilization
Correct answer is C
No explanation has been provided for this answer.
The following can be used to improve a country’s balance of payment EXCEPT
Anti-dumping policies
Decreasing taxation on personal income
Granting subsidies to export producers
Increasing import duties
Removing export duties
Correct answer is B
No explanation has been provided for this answer.
The variance of a given set of numbers is defined as the
Absolute value of the standard deviation
Square of the standard deviation
Square root of the standard deviation
Square root of the standard deviation
Square root of the mean deviation
Correct answer is B
No explanation has been provided for this answer.